Will There Be a RECESSION in 2023? Chance of Recession in Next 12 Months!
This bodes well for the economy and the US housing market since the forecast for housing is continuing to improve. Home prices have continued to increase in 2023 and will likely set new record highs in 2024. High mortgage rates have not damped demand, which is still strong with very low inventory.
The outlook for a recession this year is unlikely as the job market is strong and consumer spending including real estate purchases remain high.